Another ETF, filed with the SEC earlier this year, was the Winklevoss Bitcoin Trust, started by the Winklevoss twins of Facebook fame, who have been large investors in bitcoin to the point of appearing boisterous. Yet the Winklevoss Bitcoin Trust has been stuck in regulatory limbo since its initial filing.

Institutional interest in bitcoin has been heating up. Wedbush Securities recently released a report that was very bullish about bitcoin’s prospects. The firm proclaimed that the price of one bitcoin could reach $98,500.

And Bank of America released its own report about bitcoin not long ago, saying that the distributed virtual currency has “clear potential for growth”.

Fortress, which trades on the New York Stock Exchange (NYSE), is reportedly planning to announce the fund at the Bitcoin New Years Eve Bash being held tonight at 40 Broad Street in New York City.

That location is next to the NYSE. In fact, it houses something called the NYC Bitcoin Center, an effort that has been launched to educate investors about BTC.